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Fed likely to stay the course on interest rate hike as inflation ticks up but gas prices ease

Lower gas prices will put downward pressure on inflation. Scott Olson/Getty ImagesThe Federal Reserve received mixed news in the latest data on U.S. inflation as it mulls another rate hike. Consumer prices rose 8.3% in August from a year earlier, data released on Sept. 13, 2022, shows. While this pace is down from the 8.5% annual gain experienced in July, it’s still higher than what some economists had expected. The increase comes despite efforts by the U.S. central bank to tamp down the rising